Question
The efficiency ratio of workers A and B is 15:17. If
both A and B collaboratively finish a task in 30 days, how long would it take for A to complete the task independently?Solution
Let the efficiency of A and B be 15 units per day and 17 units per day, respectively. So, total amount of work = (15 + 17) X 30 = 960 units Time taken by A alone to compete the whole work = 960/15 = 64 days Hence, option c.
Which of the following is a primary objective of auditing?
A sale of Rs. 25,000 to A was entered as a sale to B. This is an example of _
Which of the following best describes analytical procedures as per SA 520?
Client has breached debt covenants; lender issued waiver valid for 9 months after balance sheet date. Auditor notes liquidity support from group company...
Process of verifying the documentary evidences of transactions are known as:
An auditor finds material misstatements due to fraud but the management refuses to take corrective action. What should be the auditor’s next step?
An auditor notices that a bank’s internal controls over loan approvals are weak, but substantive testing of balances shows no material misstatements. ...
________ the audit risks _________ the materiality and _______ the audit effort
Which of the following constitutes the most reliable audit evidence?
Late-year reinsurance treaties significantly reduce reported loss ratio. Which step is most relevant to fraud risk of “window dressing”?
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